Q. The trend of online shopping has increased in recent times with the increase of e-commerce and digital technology. With just a single click of a button, you can shop for everything by sitting at your home as per your choice, convenience and budget. But at the same time it hampers the business of the local shopkeepers who are unable to compete with e-trading. Write an article in 120-150 words using the cues given below on the topic ‘The Growing trend of Online Shopping and its impact on Retail Stores.’ You are Mahima Chowdhary.
➢ famous sites - Alibaba, Amann, Flipkart, eBay
➢ shop for anything
➢ compare prices of products and buy
➢ quick delivery
➢ economic loss of retailers
➢ left over stock - huge loss
➢ spend more time – advertisements to attract customers
The Growing Trend of Online Shopping and its Impact on Retail Stores
By: Mahima Chowdhary
The rise of e-commerce giants like Alibaba, Amazon, Flipkart, and eBay has revolutionized the way we shop. With a few clicks, we can access a vast array of products, compare prices, and enjoy quick delivery right to our doorstep. This convenience has undeniably increased the popularity of online shopping.
However, this convenience comes at a cost. Local retailers are facing significant challenges. The ability to easily compare prices online often leads consumers to choose the cheapest option, regardless of where it’s sold. This price competition forces retailers to lower their margins, impacting their profitability. Moreover, the influx of online products can leave retailers with unsold stock, resulting in substantial losses.
To survive, local retailers need to adapt. They must invest more time and resources in marketing efforts to attract customers, such as targeted advertisements and engaging in-store experiences. Building strong customer relationships and offering personalized services can also help them differentiate themselves from online competitors.
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